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The average diameter of sand dollars on a certain island is 3.60 centimeters with a standard deviation of 0.90 centimeters. If 36 sand dollars are chosen at random for a collection, find the probability that the average diameter of those sand dollars is more than 3.335 centimeters. Assume that the variable is normally distributed.
Consumer Review posts reviews and ratings of a variety of products on internet. The following is a sample of 20 speaker systems and their ratings (www.audioreviews.com).
If sales invoices are automatically calculated and posted by a company's computer system, can the auditor reduce substantive tests of transactions for the accuracy objective? Why?
The January 17, 1994 issue of Time magazine reported that 58% of adult Americans said yes to the question "If you or your spouse were pregnant, would you want the unborn child tested for genetic defects?"
What percentage of men are too tall to fit though a standard doorway without bending, and what percentage of women are too tall to fit through a standard doorway without bending?
What is the probability of a fatal accident over a lifetime? Explain your reasoning carefully. Hint: Assume independent events. Why might the assumption of independence be violated? Why might a driver be tempted not to use a seat belt "just on thi..
Give an example of a hypothesis test you could perform at work or at home. State what the Null and the Alternative hypotheses would be in your test.
Solve the following problem for distribution with a mean 80 and standard deviation of 10. Find out at least what percentage of values will fall between 60 and 100.
Use the population standard deviation along with the sample mean, S, and find a 92% confidence interval for the population mean. Is the true population mean contained in this interval?
Management of a company is considering adopting a bonus system to increases production. One suggestion is to pay a bonus on the highest 5 percent of production based on past experience.
Compute mean, standard deviation, coefficient of variation and 5 key percentiles for these data.
Suppose we have run a regression on 48 months of data and the regression equation is Y = 50000 + 1000*x (where x is the month number).
If campaign can be expected to also to rise the probability of best case scenario to 0.4, is it a good investment.
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